Welcome to our dedicated page for Energizer Holdings news (Ticker: ENR), a resource for investors and traders seeking the latest updates and insights on Energizer Holdings stock.
Energizer Holdings, Inc. (NYSE: ENR) is a global leader in the manufacturing and distribution of household batteries, specialty batteries, and lighting products. The company's product portfolio includes a variety of battery technologies such as lithium, alkaline, carbon-zinc, nickel-metal hydride, zinc-air, and silver oxide. These products are marketed under well-known brands like Energizer, Rayovac, Varta, and Eveready, catering to both performance and premium price segments.
Beyond batteries, Energizer also provides an extensive range of auto care products, which include offerings in appearance, fragrance, performance, and air conditioning recharge categories. The company operates through two primary geographic segments: the Americas and International, with the majority of its revenue generated from the Americas.
In recent developments, Energizer has been focusing on improving its financial health and operational efficiency through aggressive cost-saving measures under Project Momentum. This initiative aims to deliver significant savings by optimizing cost structures and simplifying operations. As part of this project, the company expects to achieve savings between $130 to $150 million by the end of 2025.
Despite facing top-line challenges in recent quarters, Energizer remains committed to maintaining robust margins and cash flow, which has enabled the company to reduce debt and reinvest in its business. For fiscal year 2023, Energizer delivered adjusted earnings and EBITDA within its original guidance range, achieving notable progress in gross margin restoration and free cash flow generation.
Looking forward, Energizer anticipates continued macroeconomic uncertainties in 2024. However, the company is focused on executing its strategic priorities, which include gross margin improvement, debt reduction, and strategic investments to fuel long-term growth. For fiscal 2024, the company projects adjusted EBITDA in the range of $600 million to $620 million and adjusted earnings per share between $3.10 to $3.30.
The company's latest financial results for the first fiscal quarter of 2024 highlight an improvement in adjusted gross profit margin and strong free cash flow, further supporting debt reduction efforts. These results reflect the benefits of Project Momentum, despite fluctuations in net sales and ongoing restructuring costs.
Energizer's management continues to engage with investors and stakeholders through regular conference calls and webcasts, providing updates on financial performance and strategic initiatives. The company remains committed to delivering value to its shareholders while navigating the complexities of a dynamic global market.
Energizer Holdings, Inc. (ENR) reported strong first fiscal quarter results for 2021 ending December 31, with net sales of $848.6 million, a 15.2% increase from the prior year. Organic sales grew 12.7%, driven by new distribution and elevated demand. Adjusted earnings per share guidance is raised to $3.10 to $3.40. Gross margin slightly decreased to 40.7% due to incremental COVID-19 costs. However, operational efficiencies and refinancing efforts are expected to save $25 million in annual interest expenses. Free cash flow remained strong at $90.2 million.
Energizer Holdings, Inc. (NYSE: ENR) has declared dividends for its common and preferred stock. A quarterly dividend of $0.30 per share on common stock is set for payment on March 11, 2021, with a record date of February 19, 2021. The preferred stock will receive a quarterly dividend of $1.875 per share, payable on April 15, 2021, to shareholders of record as of April 1, 2021. This dividend declaration demonstrates Energizer's commitment to returning value to shareholders.
Energizer Holdings (NYSE: ENR) will report its First Quarter Fiscal 2021 results before market opening on February 8, 2021. An investor conference call will follow at 10 a.m. ET on the same day, hosted by CEO Mark LaVigne and CFO Tim Gorman. Interested parties can access the live webcast through the company's website, with a replay available later. Energizer is a leading manufacturer of batteries and related products, aiming to deliver customer value.
Energizer Holdings (NYSE: ENR) announced that the conditions for the redemption of its 7.750% Senior Notes due 2027, totaling $600 million, have been met. The full redemption will occur on January 8, 2021, at a redemption price of $1,110.964735 per $1,000 principal amount, plus accrued interest of $37.24305555. The total amount payable on the Redemption Date will be $1,148.20779055 per $1,000 principal amount. This move aligns with the company's strategy to manage its debt effectively.
Energizer Holdings (NYSE: ENR) announced a conditional redemption of $600 million in 7.750% Senior Notes due 2027, set for January 8, 2021. This redemption hinges on successfully securing a $650 million senior secured incremental term loan credit facility by December 22, 2020. The redemption price will include the principal, a make-whole premium, and accrued interest. This announcement does not constitute a formal notice of redemption and is subject to specific terms under the indenture governing the Notes.
Energizer Holdings reported strong fourth quarter and fiscal year 2020 results, with net sales reaching $763 million, up 6.1% year-over-year. Full-year sales were $2.74 billion, a 10% increase. However, gross margins declined to 36.9% in Q4, affected by COVID-19 costs and changes in product mix. Net loss for Q4 was $41.7 million compared to a profit of $47 million last year. For fiscal 2021, the company projects 2%-4% sales growth and adjusted EBITDA of $600-$630 million, amid ongoing pandemic-related impacts.
Energizer Holdings (NYSE: ENR) announced the retirement of CEO Alan R. Hoskins, effective January 1, 2021, after nearly 40 years with the company. Mark S. LaVigne, currently President and COO, will succeed him. The Board has expressed confidence in LaVigne's leadership during this transition. Hoskins has significantly contributed to Energizer's growth, leading two key acquisitions and boosting financial performance, including five consecutive years of organic sales growth. His advisory role will continue until September 30, 2021. The company continues to focus on innovation and market leadership.
Energizer Holdings, Inc. (NYSE: ENR) will share its Fourth Quarter Fiscal 2020 results before market openings on November 12, 2020. The results will be discussed in a conference call starting at 10 a.m. ET on the same day, hosted by CEO Alan Hoskins, COO Mark LaVigne, and CFO Tim Gorman. Investors can access the live webcast on Energizer's website. A replay will be available afterward under the "Past Events" section. Energizer is a leading global manufacturer of batteries and related products, focusing on delivering value to its customers.
Energizer Holdings (NYSE: ENR) announced the successful completion of an $800 million private offering of 4.375% senior notes due 2029. The proceeds will fund the redemption of $750 million in 6.375% senior notes due 2026, with the redemption set for October 16, 2020. The new notes are guaranteed by certain domestic subsidiaries and offered to qualified institutional buyers. The offering, exempt from registration under the Securities Act, underscores Energizer's strategic financial maneuvering, aiming to enhance its financial structure.
Energizer Holdings, Inc. (NYSE: ENR) has priced an offering of $800 million in 4.375% senior notes due 2029, set to close on or around September 30, 2020. The proceeds will be used to fully redeem $750 million of existing 6.375% senior notes due 2026 and cover related fees and expenses. The offering is aimed at qualified institutional buyers under Regulation S and Rule 144A. The notes will be guaranteed by select domestic subsidiaries, and the offering is exempt from registration under the Securities Act.
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